Australian shares fell on Friday, with the S&P/ASX 200 down 0.5 per cent to 8,658.9 just after midday. Technology dropped 1.8 per cent and materials fell 0.7 per cent, while consumer staples was the only sector in positive territory.
Oil surged above US$107 a barrel overnight amid renewed supply concerns from the Iran war, while US bond yields reached multi-decade highs. Locally, WiseTech and Xero fell, while BHP and Rio Tinto also traded lower.
In small cap company news:
Unity Metals secures $3.5 million for Cambodia drilling
Unity Metals (ASX:UM1) has secured firm commitments for an oversubscribed $3.5 million placement and will also offer eligible shareholders a $1 million share purchase plan. The majority of the funds will support further drilling at its O’Phlay and Ngot gold discoveries in Cambodia, with drilling at O’Phlay scheduled to restart in early October.
Peninsula Energy increases Lance uranium resource to 59 million pounds
Peninsula Energy (ASX:PEN) has increased the mineral resource at its Lance Project in Wyoming to 59 million pounds of uranium oxide. The Ross area resource increased 15.6 per cent to 7.4 million pounds following further drilling, while additional drilling is planned at the Kendrick area.
Talonx Resources begins fieldwork at Botswana project
Talonx Resources (ASX:TXR) has commenced fieldwork at its Kihabe Project in north-west Botswana, targeting copper and other base metals. The initial program at the Gossan prospect will include more than 700 soil samples, along with mapping and rock-chip sampling to identify targets for follow-up work and potential drilling.
Iron Road starts nickel-copper-gold drilling in South Australia
Iron Road (ASX:IRD) has commenced drilling at the TAU-A nickel-copper-gold target at its Irria Prospect in South Australia. The initial program will comprise two holes of around 150 metres each, with scope for up to four additional holes depending on results from the first phase of drilling.
Healius agrees to sell Agilex Biolabs for $160 million
Healius (ASX:HLS) has entered into a binding agreement to sell Agilex Biolabs to Novotech for an enterprise value of $160 million. The transaction is expected to generate around $155 million in cash proceeds and leave Healius in a net cash position. Completion is expected in the second half of FY27, subject to regulatory approvals and other conditions.
To hear more from ASX listed companies Clever Culture Systems, Unity Metals, Cambium Bio, Latrobe Magnesium and Immutep, join us for the Uncovering Hidden Gems webinar on 30th Sept at 12:30pm AEST.
